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Shining a Light on the Mysteries of State: The Origins of Fiscal Transparency in Western Europe
Author:
Mr. Timothy C Irwin
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Series:
IMF Working Papers
Volume/Issue:
Volume 2013: Issue 219
Language:
English
Publication Date:
25 Oct 2013
DOI:
https://doi.org/10.5089/9781475570946.001
ISBN:
9781475570946
ISSN:
1018-5941
Pages:
43
Keywords:
WP; government finances; government policy; absolutist government; government sector; fiscal transparency; budgets; public accounts; public finances; government's account; government regulation; finance minister; government operation; publication of a report; Budget planning and preparation; Fiscal accounting and reporting; Western Europe; Europe
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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The extent of fiscal transparency in Western Europe has varied over the centuries. Although ancient Greek, Roman, and medieval governments were sometimes open about their finances, the absolute monarchies of the 1600s and 1700s shrouded them in mystery. Factors that have encouraged transparency include (i) the sharing of political power and rulers’ need to persuade creditors to lend and taxpayers’ representatives to approve new taxes; (ii) the spread of technological innovations that reduce the costs of storing and transmitting information; and (iii) the acceptance of political theories that emphasize accountable government and public discussion of government policy.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund